Richardson City Manager Don Magner has filed the City’s proposed 2022-2023 fiscal year budget in preparation for its first presentation to the City Council on Monday.  The proposed budget includes a projected $354,486,879 in outlays, representing an increase of $23,698,460, or 7.2 percent. It also includes a $0.05421 tax rate reduction, rolling the City’s tax rate back 17 years to levels last seen in 2006. 

The proposed budget was strategically developed to be responsive to inflationary pressures not experienced in more than four decades and one of the most competitive labor markets in the country.  The City has seen significant increases in material and service costs that are impacting operations and programming.  In addition, finding staff to fill critical positions, such as public safety, traffic/engineering, solid waste services and water/wastewater, continues to be problematic. Both challenges have the potential to impact the City’s ability to deliver core services people depend on daily, so an aggressive response was deemed essential. 

Robust performance this year for property valuations and sales tax receipts have provided resources necessary to meet current economic challenges and provide for a significant property tax rate reduction. However, budgetary precautions are also proposed to buffer possible future negative impacts that could arise due to long-term inflation and changes in the health of the local business climate. 

Other key highlights of the proposed 2022-2023 Budget include: 

  • Certified value growth of 13.08% from FY22  
  • Senior tax exemption increase to $105,000 
  • Creation of 9 firefighter/paramedic positions to staff an additional ambulance  
  • Addition of 3 new police officers to the patrol division 
  • Creation of Department of Economic Development and dedication of nearly $1.4 million for economic development initiatives  
  • Dedication of $4.7 million to street maintenance and $1.9 million to alley maintenance, a 3.5% increase from FY22 
  • Increase of 1.9% in water and sewer rates (average impact of $27/year) 
  • Increase of $0.50/month (average impact $6/year) to residential drainage fee and $0.014 per square foot increase to the monthly commercial drainage fee 
  • Increase of $3/month (includes sales tax) to residential solid waste rates (average impact of $36/year); keeps 26% senior discount  
  • Dedication of $930,666 to parks and facilities multi-year maintenance strategies 
  • 6% merit-based market pay plan adjustments for all employees and public safety steps 
  • Increases full-time and permanent part-time minimum starting salary to $17.82/hour 

Website: www.cor.net/budget